Tag: insurance information

Insurance news for auto and homeowners shows roommates impact coverage

Insurance news for roommate insurance

The I.I.I. has released data showing the repercussions of cohabitation. The Insurance Information Institute has released its most recent insurance news, which involves the impact of the growing number of people in the United States who are living together as roommates or unmarried partners. One in eight American households include two or more non-related people. According to the U.S. Census Bureau, the current statistics show that over the decade from the year 2000 to 2010, there has been an increase of 5 percent in this living situation. This suggests that…

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HHS releases a wealth of insurance information to consumers

S.Vagus
Online health Insurance exchange

HHS provides access to vital insurance information For several years, it has been difficult for individuals and families to obtain information from the federal government concerning the cost of health insurance. For some companies, information pertaining to how they price insurance policies is a tightly held secret. With health care reform on the mind of many consumers, however, the demand for this information has become too big to ignore. The U.S. Department of Health and Human Services (HHS) has announced that it will be releasing a large amount of federal…

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Negligent parking makes insurance news as innocent drivers pay the price

Nordstrom

A recent study is making insurance news as it indicates that the cost of collisions has now added £1.3 million worth of damage to cars – A cost which must eventually be paid through the premiums of policyholders. Moreover, the study showed that only 1 in every 6 drivers said that they would leave their insurance information for the damaged car owner, and among them, 45 percent said that they would do so only if it looked like the damage was serious. Most of the careless parking incidents appeared to…

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Severe weather leads to over $1.2 billion in insurance losses in March

Marc

Insurance industry gets hit with huge losses for 2012. Global reinsurance intermediary, Aon Benfield, which is also responsible for the Aon plc capital advising, has released its most recent Global Catastrophe report edition, which provided an overview of the global natural disaster events of March 2012. The report was published by the catastrophe model development center of excellence for the company, Impact Forecasting. It showed that a number of serious weather events struck the Tennessee Valley, the American Midwest, and the Southeast of the country during the first week of…

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Homeowners’ insurance rates increase as a result of last year’s tornadoes

The tornadoes that struck Joplin, Missouri, and other areas in 2011 will now be increasing the homeowners insurance rates as a whole, regardless of whether or not the area was influenced by any wind storms last year. According to data from the Missouri Department of Insurance, the rates for homeowners insurance in that state will be increasing by just over 5 percent. At the same time, state insurance officials in Illinois – an area also impacted by storms last year – have yet to provide any estimates as to how…

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Understanding what is – and is not – covered by tornado insurance

Julie Campbell

The surge of destructive and deadly twisters last week has put the spotlight on tornado insurance once more, as consumers attempt to understand the type of coverage that it will provide, including why many homeowners are still forced to pay repair bills related to tornado damage regardless of their policies. The Insurance Information Institute has said that the majority of insurance policies for homeowners, businesses, and vehicles will include tornadoes as an element of their standard severe weather and wind coverage. Typically speaking, renters’ and homeowners’ insurance will cover the…

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Eqecat weighs in on the recent storm in Midwest and Southern U.S

Last week’s outbreak of devastating tornadoes in the South and Midwest of the U.S. are likely to cost the insurance industry quite a lot of money. Thus far, no insurer has been keen to release estimates regarding the total cost of the disasters, but risk modeling agency Eqecat is willing to hazard a guess. The acclaimed modeling firm says that this year’s storm season is already looking to be 30% more disastrous and costly than the average of previous years. The firm also notes that tornadoes may be one of…

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